Murdoch’s Wall is Doomed to Fail

There are a few simple rules that will stand you in good stead in the markets: buy on the dips. Don’t trade too often. And never bet against Rupert Murdoch. The Australian-born media tycoon, 79, has railed against the conventional wisdom in a career that has lasted many decades. He has taken plenty of rulebooks, ripped them up and come out a winner. This month he will make his most ambitious gamble yet. He will try to redesign the way the internet and the media work by putting up a paywall around two British newspapers, The Times and The Sunday Times. And this time he is doomed to fail. It’s too late to start charging for newspapers online. The content isn’t good enough, and newspapers themselves are a product of technologies that simply don’t work in a digital economy. All Murdoch is going to achieve with this move is to kill off one of the most famous media brands in the world